A Billionaire Has Recently Bought a Luxury Resort in Florida for an Undisclosed Price

Larry Ellison, the tech mogul and Oracle founder, has just added another gem to his impressive portfolio. The Eau Palm Beach Resort & Spa, a renowned slice of paradise on Florida’s coast, is now under Ellison’s ownership.

Photo byEAU PALM BEACH RESORT & SPA

The resort, located at 100 S. Ocean Blvd., Manalapan, has been sold, though the price tag hasn’t been revealed. The deal was brokered by Eastdil Secured, and the seller was Zinfandel Holdings LLC, helmed by Simon Lewis and his family. They initially bought the place back in 2003 for a cool $67.5 million.

Simon Lewis shared his sentiments about the sale, saying, “Our family feels privileged to have been a successful part of the Eau Palm Beach story. While we’re sad to move on, we’re thrilled that Larry Ellison will be the one to guide this resort to even greater heights.” Quite a heartfelt farewell, right?

The Eau Palm Beach has a rich history, originally known as the La Coquille Club back in the 1950s. It’s seen quite a few changes over the decades, including a stint as a Ritz-Carlton before it was rebranded by the Lewis family in 2013.

The current team at the resort isn’t going anywhere, so don’t worry about any drastic changes in management. Tim Nardi, the general manager, expressed enthusiasm about the transition. He’s confident that Ellison’s track record in luxury hospitality will bring exciting new innovations and amenities to the resort, keeping it at the top of guests’ must-visit lists.

Speaking of Ellison’s credentials, this isn’t his first rodeo with high-end hotels. He already owns several luxury properties, including the Four Seasons Lanai, Sensei Lanai, and Nobu Ryokan Malibu, to name a few. Plus, Ellison’s got a bit of local flavor, owning a massive estate in Manalapan that set him back $173 million in 2022.

So, what does this mean for Eau Palm Beach? With Ellison at the helm, expect some fresh updates and enhancements while still retaining the charm that made it a standout destination. Stay tuned for what promises to be an exciting new chapter for this luxury hotspot!